Outset Medical (OM) 10-Q 8 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 02, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Entity File Number	001-39513
Entity Registrant Name	Outset Medical, Inc.
Entity Central Index Key	0001484612
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-0514392
Entity Address, Address Line One	3052 Orchard Dr.
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95134
City Area Code	669
Local Phone Number	231-8200
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	OM
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		48,307,880

Condensed Balance Sheets

Condensed Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 63,877	$ 182,348
Short-term investments	163,640	157,140
Accounts receivable, net	22,512	25,600
Inventories	55,260	39,185
Prepaid expenses and other current assets	4,714	5,529
Total current assets	310,003	409,802
Restricted cash	33,311	33,311
Property and equipment, net	15,617	12,964
Operating lease right-of-use assets	6,405	7,231
Other assets	386	156
Total assets	365,722	463,464
Current liabilities:
Accounts payable	1,444	1,763
Accrued compensation and related benefits	19,273	24,948
Accrued expenses and other current liabilities	16,370	13,789
Accrued warranty liability	3,456	3,704
Deferred revenue, current	7,825	6,340
Operating lease liabilities, current	1,276	1,151
Total current liabilities	49,644	51,695
Accrued interest, noncurrent	1,081	721
Deferred revenue, noncurrent	142	312
Operating lease liabilities, noncurrent	5,924	6,893
Term loan, noncurrent	29,828	29,762
Total liabilities	86,619	89,383
Commitments and contingencies (Note 6)
Stockholders' equity:
Preferred stock, $0.001 par value; 5,000 shares authorized, and no shares issued and outstanding as of September 30, 2022 and December 31, 2021	0	0
Common stock, $0.001 par value; 300,000 shares authorized as of September 30, 2022 and December 31, 2021; 48,295 and 47,241 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively	48	47
Additional paid-in capital	1,027,495	1,000,212
Accumulated other comprehensive (loss) income	(934)	(184)
Accumulated deficit	(747,506)	(625,994)
Total stockholders' equity	279,103	374,081
Total liabilities and stockholders' equity	$ 365,722	$ 463,464

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	48,295,000	47,241,000
Common stock, shares outstanding	48,295,000	47,241,000

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue:
Revenue	$ 27,761	$ 26,318	$ 83,368	$ 74,450
Cost of revenue:
Cost of revenue	23,425	23,372	70,808	70,163
Gross profit	4,336	2,946	12,560	4,287
Operating expenses:
Research and development	13,059	9,729	37,411	25,331
Sales and marketing	22,276	15,726	65,851	42,079
General and administrative	10,000	7,629	30,493	26,597
Total operating expenses	45,335	33,084	133,755	94,007
Loss from operations	(40,999)	(30,138)	(121,195)	(89,720)
Interest income and other income, net	805	99	1,384	375
Interest expense	(567)	(431)	(1,470)	(1,284)
Loss before provision for income taxes	(40,761)	(30,470)	(121,281)	(90,629)
Provision for income taxes	20	0	231	74
Net loss	$ (40,781)	$ (30,470)	$ (121,512)	$ (90,703)
Net loss per share, basic and diluted	$ (0.85)	$ (0.65)	$ (2.54)	$ (1.96)
Net loss per share, basic and diluted	$ (0.85)	$ (0.65)	$ (2.54)	$ (1.96)
Shares used in computing net loss per share, basic and diluted	48,129	46,588	47,835	46,252
Shares used in computing net loss per share, basic and diluted	48,129	46,588	47,835	46,252
Product Revenue
Revenue:
Revenue	$ 21,739	$ 21,824	$ 67,024	$ 60,662
Cost of revenue:
Cost of revenue	19,632	20,526	60,460	63,180
Service and Other Revenue
Revenue:
Revenue	6,022	4,494	16,344	13,788
Cost of revenue:
Cost of revenue	$ 3,793	$ 2,846	$ 10,348	$ 6,983

Condensed Statements of Compreh

Condensed Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (40,781)	$ (30,470)	$ (121,512)	$ (90,703)
Other comprehensive income (loss):
Unrealized gain (loss) on available-for-sale securities	21	8	(750)	(21)
Comprehensive loss	$ (40,760)	$ (30,462)	$ (122,262)	$ (90,724)

Condensed Statement of Stockhol

Condensed Statement of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning Balance at Dec. 31, 2020	$ 328,609	$ 43	$ 822,624	$ 1	$ (494,059)
Beginning Balance (shares) at Dec. 31, 2020		42,722
Issuance of common stock through employee stock purchase plan	1,838		1,838
Issuance of common stock through employee stock purchase plan (shares)		80
Stock option exercises	380		380
Stock option exercises (shares)		86
Stock-based compensation expense	5,852		5,852
Unrealized gain (loss) on available-for-sale securities	(9)			(9)
Net loss	(30,025)				(30,025)
Ending Balance at Mar. 31, 2021	306,645	$ 43	830,694	(8)	(524,084)
Ending Balance (shares) at Mar. 31, 2021		42,888
Beginning Balance at Dec. 31, 2020	328,609	$ 43	822,624	1	(494,059)
Beginning Balance (shares) at Dec. 31, 2020		42,722
Unrealized gain (loss) on available-for-sale securities	(21)
Net loss	(90,703)
Ending Balance at Sep. 30, 2021	409,751	$ 47	994,486	(20)	(584,762)
Ending Balance (shares) at Sep. 30, 2021		47,018
Beginning Balance at Mar. 31, 2021	306,645	$ 43	830,694	(8)	(524,084)
Beginning Balance (shares) at Mar. 31, 2021		42,888
Issuance of common stock upon initial public offering, net of issuance costs	149,085	$ 3	149,082
Issuance of common stock upon initial public offering, net of issuance costs (shares)		2,946
Issuance of common stock for settlement of RSUs (shares)		1
Stock option exercises	1,723		1,723
Stock option exercises (shares)		390
Stock-based compensation expense	3,937		3,937
Unrealized gain (loss) on available-for-sale securities	(20)			(20)
Net loss	(30,208)				(30,208)
Ending Balance at Jun. 30, 2021	431,162	$ 46	985,436	(28)	(554,292)
Ending Balance (shares) at Jun. 30, 2021		46,225
Issuance of common stock through employee stock purchase plan	1,596		1,596
Issuance of common stock through employee stock purchase plan (shares)		36
Issuance of common stock for settlement of RSUs (shares)		1
Stock option exercises	4,591	$ 1	4,590
Stock option exercises (shares)		756
Stock-based compensation expense	2,864		2,864
Unrealized gain (loss) on available-for-sale securities	8			8
Net loss	(30,470)				(30,470)
Ending Balance at Sep. 30, 2021	409,751	$ 47	994,486	(20)	(584,762)
Ending Balance (shares) at Sep. 30, 2021		47,018
Beginning Balance at Dec. 31, 2021	374,081	$ 47	1,000,212	(184)	(625,994)
Beginning Balance (shares) at Dec. 31, 2021		47,241
Issuance of common stock through employee stock purchase plan	2,063		2,063
Issuance of common stock through employee stock purchase plan (shares)		55
Issuance of common stock for settlement of RSUs (shares)		88
Stock option exercises	1,660	$ 1	1,659
Stock option exercises (shares)		328
Stock-based compensation expense	5,006		5,006
Unrealized gain (loss) on available-for-sale securities	(465)			(465)
Net loss	(36,892)				(36,892)
Ending Balance at Mar. 31, 2022	345,453	$ 48	1,008,940	(649)	(662,886)
Ending Balance (shares) at Mar. 31, 2022		47,712
Beginning Balance at Dec. 31, 2021	374,081	$ 47	1,000,212	(184)	(625,994)
Beginning Balance (shares) at Dec. 31, 2021		47,241
Unrealized gain (loss) on available-for-sale securities	(750)
Net loss	(121,512)
Ending Balance at Sep. 30, 2022	279,103	$ 48	1,027,495	(934)	(747,506)
Ending Balance (shares) at Sep. 30, 2022		48,295
Beginning Balance at Mar. 31, 2022	345,453	$ 48	1,008,940	(649)	(662,886)
Beginning Balance (shares) at Mar. 31, 2022		47,712
Issuance of common stock for settlement of RSUs (shares)		52
Stock option exercises	1,042		1,042
Stock option exercises (shares)		233
Stock-based compensation expense	7,414		7,414
Unrealized gain (loss) on available-for-sale securities	(306)			(306)
Net loss	(43,839)				(43,839)
Ending Balance at Jun. 30, 2022	309,764	$ 48	1,017,396	(955)	(706,725)
Ending Balance (shares) at Jun. 30, 2022		47,997
Issuance of common stock through employee stock purchase plan	2,139		2,139
Issuance of common stock through employee stock purchase plan (shares)		138
Issuance of common stock for settlement of RSUs (shares)		49
Stock option exercises	530		530
Stock option exercises (shares)		111
Stock-based compensation expense	7,430		7,430
Unrealized gain (loss) on available-for-sale securities	21			21
Net loss	(40,781)				(40,781)
Ending Balance at Sep. 30, 2022	$ 279,103	$ 48	$ 1,027,495	$ (934)	$ (747,506)
Ending Balance (shares) at Sep. 30, 2022		48,295

Condensed Statement of Cash Flo

Condensed Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net loss	$ (121,512)	$ (90,703)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	19,850	12,653
Depreciation and amortization	3,900	3,866
Non-cash lease expense	826	759
Non-cash interest expense	426	426
Accretion of discount on investments, net	1,081	1,173
Provision for inventories	1,617	766
Other non-cash items	26	5
Changes in operating assets and liabilities:
Accounts receivable	3,079	(12,838)
Inventories	(17,692)	(17,925)
Prepaid expenses and other assets	728	718
Accounts payable	(575)	(2,151)
Accrued payroll and related benefits	(5,675)	913
Accrued expenses and other current liabilities	2,476	3,496
Accrued warranty liability	(248)	321
Deferred revenue	1,315	1,550
Operating lease liabilities	(844)	(617)
Net cash used in operating activities	(111,222)	(97,588)
Cash flows from investing activities:
Purchases of property and equipment	(6,216)	(2,257)
Purchases of investment securities	(168,615)	(148,132)
Sales and maturities of investment securities	160,284	24,300
Net cash used in investing activities	(14,547)	(126,089)
Cash flows from financing activities:
Proceeds from stock option exercises and employee stock purchase plan purchases	7,433	10,128
Proceeds from issuance of common stock upon follow-on public offering, net of issuance costs	0	149,085
Payment of deferred financing costs	(135)	0
Net cash provided by financing activities	7,298	159,213
Net decrease in cash, cash equivalents and restricted cash	(118,471)	(64,464)
Cash, cash equivalents and restricted cash as of beginning of period	215,659	328,283
Cash, cash equivalents and restricted cash as of end of period	97,188	263,819
Supplemental cash flow disclosures:
Cash paid for income taxes	334	72
Cash paid for interest	1,044	858
Cash paid for amounts included in the measurement of operating lease liabilities	844	617
Supplemental non-cash investing and financing activities:
Capital expenditures included in accounts payable and accrued expenses	556	218
Transfer of inventories to property and equipment	0	1,392
Transfer Of Property And Equipment To Inventories	$ 0	$ 146

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	1. Description of Business Outset Medical, Inc. (the Company) is a medical technology company pioneering a first-of-its-kind technology to reduce the cost and complexity of dialysis. The Tablo® Hemodialysis System (Tablo), cleared by the U.S. Food and Drug Administration (FDA) for use from the hospital to the home, represents a significant technological advancement designed to transform the dialysis experience for patients and operationally simplify it for providers. Tablo serves as a single enterprise solution designed to be utilized across the continuum of care, allowing dialysis to be delivered anytime, anywhere, and by virtually anyone. The integration of water purification and on-demand dialysate production in a single 35-inch compact console enables Tablo to serve as a dialysis clinic on wheels. With a simple-to-use touchscreen interface, two-way wireless data transmission and a proprietary data analytics platform, Tablo is a new holistic approach to dialysis care. The Company’s headquarters are located in San Jose, CA. Liquidity Since inception, the Company has incurred net losses and negative cash flows from operations. During the nine months ended September 30, 2022 and 2021, the Company incurred a net loss of $ 121.5 million and $ 90.7 million , respectively. As of September 30, 2022, the Company had an accumulated deficit of $ 747.5 million . As of September 30, 2022, the Company had cash, cash equivalents and short-term investments of $ 227.5 million , which are available to fund future operations, and restricted cash of $ 33.3 million , for a total cash, cash equivalents, restricted cash and short-term investments balance of $ 260.8 million . Management expects to continue to incur significant expenses for the foreseeable future and to incur operating losses in the near term while the Company makes investments to support its anticipated growth. Management believes that the Company’s existing cash, cash equivalents, short-term investments, cash generated from sales, and proceeds received and currently available from the recent debt financing described in Note 11, will be sufficient to meet its anticipated needs for at least the next 12 months from the issuance date of the accompanying condensed financial statements. Basis of Presentation The accompanying condensed financial statements are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) and on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, that are necessary for the fair statement of the Company’s financial position, results of operations, comprehensive loss, and cash flows for the interim periods presented. The financial data and the other financial information disclosed in these notes to the condensed financial statements related to the three- and nine-month periods are also unaudited. The results of operations for the three and nine months ended September 30, 2022 are not necessarily indicative of the results of operations to be anticipated for any other future annual or interim period. The condensed balance sheet as of December 31, 2021 included herein was derived from the audited financial statements as of that date. These unaudited condensed financial statements should be read in conjunction with the Company’s audited financial statements and related notes for the year ended December 31, 2021, which are included in the Annual Report on Form 10-K for the fiscal year ended December 31, 2021 filed with the Securities and Exchange Commission (SEC) on February 23, 2022 (2021 Annual Report). All share amounts disclosed in the notes to the condensed financial statements are rounded to the nearest thousand except for per share data.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies During the nine months ended September 30, 2022, there have been no material changes to the Company’s significant accounting policies as described in its 2021 Annual Report that have had a material impact on the Company’s condensed financial statements and related notes. Recently Issued Accounting Pronouncements Not Yet Adopted In June 2016, the Financial Accounting Standards Board (FASB) issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments (ASU 2016-13), which requires an entity to utilize a new impairment model known as the current expected credit loss (CECL) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial assets and certain other instruments, including but not limited to available-for-sale debt securities. Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses rather than as a direct write-down to the security. ASU 2016-13 requires a cumulative effect adjustment to the balance sheet as of the beginning of the first reporting period in which the guidance is effective. In November 2019, the FASB issued ASU 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815) and Leases (Topic 842): Effective Dates , which defers the effective date of ASU 2016-13 to fiscal years beginning after December 15, 2022 for all entities except SEC reporting companies that are not smaller reporting companies. ASU 2016-13 will be effective for the Company beginning January 1, 2023. The Company is currently evaluating the impact of the adoption of ASU 2016-13 on its financial statements.

Revenue and Deferred Revenue

Revenue and Deferred Revenue	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue and Deferred Revenue	3. Revenue and Deferred Revenue Disaggregation of Revenue Revenue by source consists of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Consoles $ 14,950 $ 15,423 $ 46,229 $ 47,046 Consumables 6,789 6,401 20,795 13,616 Total product revenue 21,739 21,824 67,024 60,662 Service and other revenue 6,022 4,494 16,344 13,788 Total revenue $ 27,761 $ 26,318 $ 83,368 $ 74,450 For the three and nine months ended September 30, 2022, $ 0.6 million and $ 1.9 million of consoles revenue were from console operating lease arrangements, compared to $ 1.3 million and $ 3.9 million for the three and nine months ended September 30, 2021. Remaining Performance Obligations and Contract Liabilities As of September 30, 2022, the aggregate amount of the transaction price allocated to the remaining performance obligations related to customer service contracts that are unsatisfied or partially unsatisfied was $ 7.9 million , which is recorded as deferred revenue on the Company’s condensed balance sheets. Of that amount, $ 7.8 million will be recognized as revenue during the next 12 months and $ 0.1 million thereafter. The contract liabilities consist of deferred revenue which represents payments received in advance of revenue recognition. Revenue under these agreements is recognized over the related service period. During the three and nine months ended September 30, 2022, the Company recognized $ 1.5 million and $ 5.8 million of previously deferred revenue.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following tables summarize the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands): September 30, 2022 Valuation Amortized Gross Gross Aggregate Assets: Cash equivalents: Money market funds Level 1 $ 30,120 $ — $ — $ 30,120 Short-term investments: U.S. Treasury securities Level 1 92,588 2 ( 607 ) 91,983 Corporate debt Level 2 39,892 — ( 329 ) 39,563 Commercial paper Level 2 32,094 — — 32,094 Total cash equivalents and $ 194,694 $ 2 $ ( 936 ) $ 193,760 December 31, 2021 Valuation Amortized Gross Gross Aggregate Assets: Cash equivalents: Money market funds Level 1 $ 60,844 $ — $ — $ 60,844 Short-term investments: U.S. Treasury securities Level 1 18,064 — ( 60 ) 18,004 Corporate debt Level 2 124,178 2 ( 125 ) 124,055 Commercial paper Level 2 15,081 — — 15,081 Total cash equivalents and $ 218,167 $ 2 $ ( 185 ) $ 217,984 As of September 30, 2022 , the remaining contractual maturities for available-for-sale securities were one month to fourteen months . Impairment assessments are made at the individual security level at each reporting period. When the fair value of an available-for-sale security is less than its cost at the balance sheet date, a determination is made as to whether the impairment is other-than-temporary and, if it is other-than-temporary, an impairment loss is recognized in earnings equal to the difference between the investment’s amortized cost and fair value at such date. As of September 30, 2022 , there were three securities with a total fair value of $ 16.0 million in an unrealized loss position for more than 12 months. The unrealized losses totalin g $ 0.2 million as of September 30, 2022 were caused by changes in market interest rates or the widening of market spreads subsequent to the initial purchase of these securities, and not related to the underlying credit of the issuers or the underlying collateral. These securities were issued by public reporting companies with an investment-grade rating by at least one bond credit rating agency. As a result, the Company did not consider these investments to be other-than-temporarily impaired as of September 30, 2022. During the three and nine months ended September 30, 2022 and 2021 , the Company did no t recognize other-than-temporary impairment losses related to its investment securities.

Balance Sheet Components

Balance Sheet Components	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Components	5. Balance Sheet Components As of September 30, 2022 and December 31, 2021, the restricted cash balance of $ 33.3 million primarily relates to contractual obligations under the SVB Loan and Security Agreement (see Note 7) and collateral for building leases in San Jose, CA and Tijuana Mexico. The following table provides a reconciliation of cash, cash equivalents and restricted cash that sum to the total of the amounts shown in the accompanying condensed statements of cash flows (in thousands): September 30, 2022 2021 Cash and cash equivalents $ 63,877 $ 230,508 Restricted cash 33,311 33,311 Total cash, cash equivalents and restricted cash $ 97,188 $ 263,819 Inventories Inventories consist of the following (in thousands): September 30, December 31, 2022 2021 Raw materials $ 19,603 $ 18,114 Work in process 12,068 6,054 Finished goods 23,589 15,017 Total inventories $ 55,260 $ 39,185 Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consist of the following (in thousands): September 30, December 31, 2022 2021 Accrued inventory $ 5,728 $ 4,808 Accrued research and development expenses 883 574 Accrued professional services 2,220 1,269 Accrued rebate 1,205 3,121 Other 6,334 4,017 Total accrued expenses and other current liabilities $ 16,370 $ 13,789

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	6. Commitments and Contingencies Litigation On July 8, 2022, a purported stockholder class action lawsuit was filed in the U.S. District Court for the Northern District of California, naming the Company, its Chief Executive Officer, Chief Financial Officer, and former Chief Financial Officer as defendants. The complaint alleged that between September 15, 2020 and June 13, 2022, the defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended (Exchange Act), by making false or misleading statements regarding the Company’s regulatory studies of the Tablo Hemodialysis System for at home use and the Company’s prospects related to the sale of the system for at home use. The complaint sought relief including damages, attorney fees, and costs in unspecified amounts. On September 7, 2022, the plaintiff filed a notice of voluntary dismissal of this action without prejudice. This action is now concluded. In addition, from time to time, the Company may become involved in other legal proceedings or investigations, which could have an adverse impact on its reputation, business and financial condition and divert the attention of the Company’s management from the operation of the Company’s business. Indemnification In the ordinary course of business, the Company often includes standard indemnification provisions in its arrangements with its partners, customers and suppliers. Pursuant to these provisions, the Company may be obligated to indemnify such parties for losses or claims suffered or incurred in connection with its service, breach of representations or covenants, intellectual property infringement or other claims made against such parties. These provisions may limit the time within which an indemnification claim can be made. It is not possible to determine the maximum potential amount under these indemnification obligations due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. To date, the Company has not incurred any material costs as a result of such indemnification obligations and has not accrued any liabilities related to such obligations in these financial statements.

Term Loan

Term Loan	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Term Loan	7. Term Loan Term loan consists of the following (in thousands): September 30, December 31, 2022 2021 Principal of term loan $ 30,000 $ 30,000 Unamortized debt discount ( 172 ) ( 238 ) Term loan, noncurrent $ 29,828 $ 29,762 SVB Loan and Security Agreement On July 2, 2020, the Company entered into a senior secured term loan facility with Silicon Valley Bank (SVB) (the SVB Loan and Security Agreement), which provided for a $ 30.0 million term loan (the SVB Term Loan). The SVB Term Loan was scheduled to mature on November 1, 2025 . Payments under the SVB Term Loan were for interest only through May 2023 , and then 30 monthly principal and interest payments from June 2023 until maturity. The SVB Term Loan bore interest at the greater of (A) 0.5 % above the Prime Rate as reported in the Wall Street Journal and (B) 3.75% ( 6.75 % as of September 30, 2022 ). The Company was obligated to maintain a restricted cash balance greater or equal to the outstanding principal balance of $ 30.0 million of the SVB Term Loan. In November 2022, the Company entered into new senior secured credit facilities (the SLR Credit Facilities) and repaid in full all amounts due under the SVB Loan and Security Agreement, including the early repayment fee of $ 0.3 million and the final payment of $ 2.0 million, using a portion of the proceeds of the SLR Credit Facilities. See Note 11 to our unaudited condensed financial statements for additional details.

Equity Incentive Plan

Equity Incentive Plan	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Equity Incentive Plan	8. Equity Incentive Plan Equity Incentive Plans On January 1, 2022, the number of shares of common stock reserved for the issuance of awards under the Company’s 2020 Equity Incentive Plan (the 2020 Plan) was increased by 1,890,000 shares as a result of the automatic increase pursuant to the 2020 Plan. As of September 30, 2022, 5,032,000 shares were reserved for future issuance under the 2020 Plan. Employee Share Purchase Plan (ESPP) On January 1, 2022, the number of shares of common stock reserved for purchase under the Company’s ESPP was increased by 472,000 shares as a result of the automatic increase pursuant to the ESPP. As of September 30, 2022, 1,278,000 shares of common stock were reserved for issuance in connection with the current and future offering periods under the ESPP. Restricted Stock The Company issues restricted stock units (RSUs) and performance stock units (PSUs), both of which are considered restricted stock. The Company grants restricted stock pursuant to the 2020 Plan and satisfies such grants through the issuance of new shares. RSUs are share awards that, upon vesting, will deliver to the holder shares of our common stock. RSUs with a service-based vesting condition granted to a grantee, beginning in February 2022, generally vest over a three-year period as follows either: (i) 25 % on the first anniversary of the original vesting date, 25% quarterly over the course of the second year, and 50% quarterly over the course of the third year, or (ii) 33% on the first anniversary of the original vesting date, with the balance vesting quarterly over the remaining two years. Prior to February 2022, RSUs with a service-based vesting condition granted to a grantee generally vest at a rate of 25% on the first anniversary of the original vesting date , with the balance vesting quarterly over the remaining three years. In 2022, the Company issued a mix of 50 % PSUs and 50 % RSUs to its CEO, and a mix of 20 % PSUs and 80 % RSUs to its other executive officers and certain other senior leaders. These PSUs are earned and vest over performance and vesting periods extending through 2024 based on achievement against two metrics: (1) an operational metric tied to the number of patients treating at home on Tablo as of the end of 2023, with 50 % of earned units vesting after certification of the achievement level following the end of 2023 and the remaining 50 % of earned units vesting at the end of 2024 (performance-based vesting conditions, referred to as the Home PSUs) and (2) the Company's relative total stockholder return (relative TSR) over a two-year performance period as compared to companies in a pre-determined index of medical device companies, with 100% of earned units vesting at the end of 2024 (market-based vesting conditions, referred to as the Relative TSR PSUs). The 2023 target for the Home PSUs is expected to be determined and approved by the Compensation Committee in early 2023. Given such target has not yet been established, the grant date for these Home PSUs will only be established when the Compensation Committee approves and the Company communicates the target to the award recipients, which will then trigger the service inception date, the fair value of the awards, and the associated expense recognition period. Therefore, no expense is expected to be recognized for these Home PSUs until the grant date is established. Stock-Based Compensation Expense The following table sets forth stock-based compensation expense included in the accompanying condensed statements of operations (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Cost of revenue $ 210 $ 64 $ 493 $ 201 Research and development 1,919 760 4,885 2,568 Sales and marketing 2,870 1,207 7,440 4,001 General and administrative 2,431 833 7,032 5,883 Total stock-based compensation expense $ 7,430 $ 2,864 $ 19,850 $ 12,653

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	9. Income Taxes For each of the three and nine months ended September 30, 2022 and 2021 , the Company incurred an income tax provision of an insignificant amount, which primarily related to foreign income taxes related to the Company’s Mexico operations. The U.S. federal and state net deferred tax assets have been fully offset by a valuation allowance, as the Company believes it is not more likely than not that the deferred tax assets will be realized.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Loss Per Share	10. Net Loss Per Share The following outstanding potentially dilutive shares were excluded from the calculation of diluted net loss per share due to their anti-dilutive effect (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Stock options to purchase common stock 2,739 3,728 2,739 3,728 Restricted stock units 1,511 542 1,511 542 Performance stock units 30 — 30 — Shares committed under ESPP 32 10 32 10 Warrant to purchase common stock 63 63 63 63 Total 4,375 4,343 4,375 4,343

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Event	11. Subsequent Events On November 3, 2022 (the Closing Date), the Company entered into two senior secured credit facilities, which collectively provide for borrowings of up to $ 300.0 million: (i) a term loan facility pursuant to a loan and security agreement (the SLR Loan Agreement) among SLR Investment Corp., as collateral agent (Agent), the lenders from time to time party thereto (the Term Loan Lenders) and the Company (the SLR Term Loan Facility), and (ii) an asset-based revolving credit facility pursuant to a credit agreement (the SLR Revolving Credit Agreement, together with the SLR Loan Agreement, the SLR Credit Facility Agreements) among Gemino Healthcare Finance, LLC d/b/a SLR Healthcare ABL, as lender (ABL Lender), and the Company (the SLR Revolver, together with the SLR Term Loan Facility, the SLR Credit Facilities). The maximum amount the Company is permitted to borrow under the SLR Credit Facilities is subject to certain overall borrowing limitations. The Company is permitted to borrow up to $ 200.0 million under the SLR Credit Facilities on the Closing Date. If the Company achieves a certain net revenue milestone, calculated on a trailing six month basis (First Revenue Milestone), on or before June 30, 2024 and the Additional Tranche (as defined below) under the SLR Revolver has been approved, the Company will be permitted to borrow up to $ 250.0 million under the SLR Credit Facilities. If the Company achieves a subsequent additional net revenue milestone, calculated on a trailing six month basis (Second Revenue Milestone), on or before June 30, 2025 and obtains lenders' credit approval, the Company will be permitted to borrow up to $ 300.0 million under the SLR Credit Facilities. The Company repaid in full all amounts due under the SVB Loan and Security Agreement, including the early repayment fee of $ 0.3 million and the final payment of $ 2.0 million, using a portion of the proceeds of the SLR Credit Facilities. SLR Term Loan Facility Pursuant to the terms and conditions of the SLR Loan Agreement, the Term Loan Lenders agreed to extend term loans to the Company in an aggregate principal amount of up to $ 250.0 million, comprised of (i) a term loan of $ 100.0 million (the Term A Loan), (ii) one or more term loans (in minimum increments of $ 20.0 million each) in the aggregate of up to $ 100.0 million (each, a Term B Loan) and (iii) one or more term loans in the aggregate of up to $ 50.0 million (each, a Term C Loan). Each Term A Loan, Term B Loan and Term C Loan is referred to single as a Term Loan and are referred to collectively as the Term Loans. The Term A Loan was funded on the Closing Date. The Term B Loan(s) are available for funding until August 22, 2024. The Term C Loan(s) are available subject to the lenders’ credit approval and the achievement of the Second Revenue Milestone on or before June 30, 2025. The Term C Loan will remain available for funding until one business day prior to November 1, 2027. Any principal amount outstanding under the Term Loans will accrue interest at a rate per annum equal to one-month term Secured Overnight Financing Rate (term SOFR) (subject to a 2.75 % floor), plus 5.15 %, payable monthly in arrears. The Company is permitted to make interest-only payments on the Term Loans through November 30, 2026, which may be extended at the Company's option to May 31, 2027; provided that the Company meets the First Revenue Milestone. Any principal amounts outstanding under the Term Loans, if not repaid sooner, are due and payable on November 1, 2027 (the Maturity Date). The Company is obligated to pay Agent (i) a non-refundable facility fee in the amount of $ 750,000 in respect of the Term A Loan, (ii) a non-refundable facility fee in the amount of $ 750,000 in respect of the Term B Loan(s), to be due and payable upon the earliest to occur of (a) the funding of the first Term B Loan, (b) December 20, 2023 and (c) the prepayment of the Term Loans and (iii) a non-refundable facility fee in the amount of $ 375,000 in respect of the Term C Loan, to be due and payable upon the earliest to occur of (a) the funding of the first Term C Loan, (b) one day prior to the Maturity Date and (c) the prepayment of the Term Loans. In addition, the Company is obligated to pay a final fee equal to 4.75 % of the aggregate amount of the Term Loans funded, such final fee to be due and payable upon the earliest to occur of (i) the Maturity Date, (ii) the acceleration of the Term Loans and (iii) the prepayment of the Term Loans. The Company may voluntarily prepay the outstanding Term Loans, subject to a prepayment premium of (i) 3.0 % of the principal amount of the Term Loan, if prepaid prior to or on the first anniversary of the Closing Date, (ii) 2.0 % of the principal amount of the Term Loan, if prepaid after the first anniversary of the Closing Date through and including the second anniversary of the Closing Date, or (iii) 1.0 % of the principal amount of the Term Loan if prepaid after the second anniversary of the Closing Date and prior to the Maturity Date . SLR Revolver The SLR Revolving Credit Agreement provides for an asset-based revolving credit facility with aggregate revolving commitments of $ 25.0 million (the Initial Revolver Commitment). The Company may request to increase the aggregate revolving commitments by $ 25.0 million (the Additional Tranche) to an aggregate amount of $ 50.0 million, subject to ABL Lender’s approval. Amounts available to be drawn under the SLR Revolver are equal to the lesser of (i) outstanding revolving commitments under the SLR Revolving Credit Agreement and (ii) a borrowing base (the Borrowing Base) equal to the sum of (a) 85% of eligible accounts receivable, plus (b) 25% of eligible inventory (not to exceed the lesser of 50% of the Borrowing Base and $5.0 million), minus (c) customary reserves, minus (d) unposted cash. Any principal amount outstanding under the SLR Revolver will accrue interest at a rate per annum equal to one-month term SOFR (subject to a 2.75 % floor), plus 3.20 %, payable monthly in arrears. Interest on any borrowing is payable monthly. The Company is obligated to pay Lender (i) a non-refundable facility fee in the amount of $ 187,500 in respect of the Initial Revolver Commitment, (ii) a non-refundable facility fee in the amount of $ 187,500 in respect of the Additional Tranche, to be due and payable upon activation of the Additional Tranche, (iii) a commitment fee of 0.50% per annum of the average daily unused portion of the then commitment amount, payable monthly and (iv) a collateral monitoring fee of 0.10 % per month of the average daily Borrowing Base during the prior month, payable monthly. The Company may terminate the SLR Revolver at any time, subject to a termination fee of (i) 2.0% of the aggregate revolving commitments then in effect, if terminated prior to or on the first anniversary of the Closing Date, (ii) 1.0% of the aggregate revolving commitments then in effect, if terminated after the first anniversary of the Closing Date through and including the second anniversary of the Closing Date, or (iii) 0.5% of the aggregate revolving commitments then in effect, if terminated after the second anniversary of the Closing Date through and including the third anniversary of the Closing Date. Such termination fee is waived if the SLR Revolver is terminated after the third anniversary of the Closing Date and prior to the Maturity Date. Subject to customary exceptions and restrictions, the Company may borrow, repay and reborrow varying amounts under the SLR Revolver at any time. If at any time the outstanding amount under the SLR Revolver exceeds the lesser of (i) the aggregate revolving commitments then in effect and (ii) the Borrowing Base then in effect, the Company will be required to prepay outstanding amounts under the SLR Revolver. The SLR Revolver shall expire on November 1, 2027. Other Terms of the SLR Credit Facilities As security for its obligations under the SLR Credit Facilities, the Company granted Agent, for the benefit of the Term Loan Lenders, and ABL Lender a continuing security interest in substantially all of the assets of the Company, including the Company’s intellectual property, subject to certain exceptions. The SLR Credit Facility Agreements contain customary representations and warranties and customary affirmative and negative covenants, including, among others, requirements as to financial reporting and insurance and restrictions on the Company’s ability to dispose of its business or property, to change its line of business, to liquidate or dissolve, to enter into any change in control transaction, to merge or consolidate with any other entity or to acquire all or substantially all the capital stock or property of another entity, to incur additional indebtedness, to incur liens on its property or to pay any dividends or other distributions on capital stock, in each case with certain exceptions. The Company has also agreed to a financial covenant whereby, beginning with the fiscal quarter ending December 31, 2023, the Company must either (i) maintain certain levels of cash and cash equivalents in accounts subject to control agreements in favor of Agent and ABL Lender of at least 50% of the sum of (a) the outstanding obligations under the Term Loans (as defined below) and (b) the amount of the Company’s accounts payable that have not been paid within 120 days from the invoice date thereof or (ii) generate net product and product related revenue (or maintain gross profit margins) in excess of specified amounts (or percentages) for applicable measuring periods. In addition, the SLR Credit Facility Agreements contain customary events of default that entitle Agent, under the SLR Loan Agreement, and ABL Lender, under the SLR Revolving Credit Agreement, to cause the Company’s indebtedness under the SLR Loan Agreement or SLR Revolving Credit Agreement, as applicable, to become immediately due and payable, and to exercise remedies against the Company and the collateral securing the obligations owed under the applicable SLR Credit Facility Agreement. Under the SLR Credit Facility Agreements, an event of default will occur if, among other things, the Company fails to make payments under either SLR Credit Facility Agreement, the Company breaches certain covenants under either SLR Credit Facility Agreement, subject to specified cure periods with respect to certain breaches, the Agent or ABL Lender, as applicable, determine that a material adverse change has occurred under the SLR Loan Agreement or SLR Revolving Credit Agreement, as applicable, or the Company or its assets become subject to certain legal proceedings, such as bankruptcy proceedings. Upon the occurrence and for the duration of an event of default, an additional default interest rate equal to 4.0 % per annum will apply to all obligations owed under the SLR Credit Facility Agreements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Issued Accounting Pronouncements Not Yet Adopted In June 2016, the Financial Accounting Standards Board (FASB) issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments (ASU 2016-13), which requires an entity to utilize a new impairment model known as the current expected credit loss (CECL) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial assets and certain other instruments, including but not limited to available-for-sale debt securities. Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses rather than as a direct write-down to the security. ASU 2016-13 requires a cumulative effect adjustment to the balance sheet as of the beginning of the first reporting period in which the guidance is effective. In November 2019, the FASB issued ASU 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815) and Leases (Topic 842): Effective Dates , which defers the effective date of ASU 2016-13 to fiscal years beginning after December 15, 2022 for all entities except SEC reporting companies that are not smaller reporting companies. ASU 2016-13 will be effective for the Company beginning January 1, 2023. The Company is currently evaluating the impact of the adoption of ASU 2016-13 on its financial statements.

Revenue and Deferred Revenue (T

Revenue and Deferred Revenue (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Summary of Revenue by Source	Revenue by source consists of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Consoles $ 14,950 $ 15,423 $ 46,229 $ 47,046 Consumables 6,789 6,401 20,795 13,616 Total product revenue 21,739 21,824 67,024 60,662 Service and other revenue 6,022 4,494 16,344 13,788 Total revenue $ 27,761 $ 26,318 $ 83,368 $ 74,450

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Summary of Financial Assets Measured at Fair Value on Recurring Basis by Level within Fair Value Hierarchy	The following tables summarize the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands): September 30, 2022 Valuation Amortized Gross Gross Aggregate Assets: Cash equivalents: Money market funds Level 1 $ 30,120 $ — $ — $ 30,120 Short-term investments: U.S. Treasury securities Level 1 92,588 2 ( 607 ) 91,983 Corporate debt Level 2 39,892 — ( 329 ) 39,563 Commercial paper Level 2 32,094 — — 32,094 Total cash equivalents and $ 194,694 $ 2 $ ( 936 ) $ 193,760 December 31, 2021 Valuation Amortized Gross Gross Aggregate Assets: Cash equivalents: Money market funds Level 1 $ 60,844 $ — $ — $ 60,844 Short-term investments: U.S. Treasury securities Level 1 18,064 — ( 60 ) 18,004 Corporate debt Level 2 124,178 2 ( 125 ) 124,055 Commercial paper Level 2 15,081 — — 15,081 Total cash equivalents and $ 218,167 $ 2 $ ( 185 ) $ 217,984

Balance Sheet Components (Table

Balance Sheet Components (Tables)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule Of Cash And Cash Equivalents And Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash that sum to the total of the amounts shown in the accompanying condensed statements of cash flows (in thousands): September 30, 2022 2021 Cash and cash equivalents $ 63,877 $ 230,508 Restricted cash 33,311 33,311 Total cash, cash equivalents and restricted cash $ 97,188 $ 263,819
Schedule of Inventories	Inventories consist of the following (in thousands): September 30, December 31, 2022 2021 Raw materials $ 19,603 $ 18,114 Work in process 12,068 6,054 Finished goods 23,589 15,017 Total inventories $ 55,260 $ 39,185
Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following (in thousands): September 30, December 31, 2022 2021 Accrued inventory $ 5,728 $ 4,808 Accrued research and development expenses 883 574 Accrued professional services 2,220 1,269 Accrued rebate 1,205 3,121 Other 6,334 4,017 Total accrued expenses and other current liabilities $ 16,370 $ 13,789

Term Loan (Tables)

Term Loan (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Term Loan	Term loan consists of the following (in thousands): September 30, December 31, 2022 2021 Principal of term loan $ 30,000 $ 30,000 Unamortized debt discount ( 172 ) ( 238 ) Term loan, noncurrent $ 29,828 $ 29,762

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Summary of Stock-based Compensation Expense	The following table sets forth stock-based compensation expense included in the accompanying condensed statements of operations (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Cost of revenue $ 210 $ 64 $ 493 $ 201 Research and development 1,919 760 4,885 2,568 Sales and marketing 2,870 1,207 7,440 4,001 General and administrative 2,431 833 7,032 5,883 Total stock-based compensation expense $ 7,430 $ 2,864 $ 19,850 $ 12,653

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Outstanding Potentially Dilutive Shares were Excluded from Calculation of Diluted Net Loss Per Share	The following outstanding potentially dilutive shares were excluded from the calculation of diluted net loss per share due to their anti-dilutive effect (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Stock options to purchase common stock 2,739 3,728 2,739 3,728 Restricted stock units 1,511 542 1,511 542 Performance stock units 30 — 30 — Shares committed under ESPP 32 10 32 10 Warrant to purchase common stock 63 63 63 63 Total 4,375 4,343 4,375 4,343

Description of Business - Addit

Description of Business - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Description Of Business [Line Items]
Proceeds from issuance of common stock upon follow-on public offering, net of issuance costs							$ 0	$ 149,085
Net loss	$ 40,781	$ 43,839	$ 36,892	$ 30,470	$ 30,208	$ 30,025	121,512	$ 90,703
Accumulated deficit	(747,506)						(747,506)		$ (625,994)
Cash, cash equivalents and short-term investments	227,500						227,500
Restricted cash	33,311						33,311		$ 33,311
Cash, cash equivalents, restricted cash and short-term investments	$ 260,800						$ 260,800

Revenue and Deferred Revenue -

Revenue and Deferred Revenue - Summary of Revenue by Source (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation Of Revenue [Line Items]
Revenue	$ 27,761	$ 26,318	$ 83,368	$ 74,450
Consoles Product
Disaggregation Of Revenue [Line Items]
Revenue	14,950	15,423	46,229	47,046
Consumables Product
Disaggregation Of Revenue [Line Items]
Revenue	6,789	6,401	20,795	13,616
Product Revenue
Disaggregation Of Revenue [Line Items]
Revenue	21,739	21,824	67,024	60,662
Service and Other Revenue
Disaggregation Of Revenue [Line Items]
Revenue	$ 6,022	$ 4,494	$ 16,344	$ 13,788

Revenue and Deferred Revenue _2

Revenue and Deferred Revenue - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Remaining performance obligations	$ 7.9		$ 7.9
Revenue recognized	1.5		5.8
Consoles Product | Operating Lease Arrangements
Revenue from operating lease arrangements	$ 0.6	$ 1.3	$ 1.9	$ 3.9

Revenue and Deferred Revenue _3

Revenue and Deferred Revenue - Additional Information (Detail) 1 $ in Millions	Sep. 30, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-04-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue performance obligation	$ 7.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue performance obligation	$ 0.1

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Financial Assets Measured at Fair Value on Recurring Basis by Level within Fair Value Hierarchy (Detail) - Fair Value, Recurring - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	$ 194,694	$ 218,167
Gross Unrealized Holding Gains	2	2
Gross Unrealized Holding Losses	(936)	(185)
Aggregate Fair Value	193,760	217,984
Level 1 | Short-term investments | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	92,588	18,064
Gross Unrealized Holding Gains	2
Gross Unrealized Holding Losses	(607)	(60)
Aggregate Fair Value	91,983	18,004
Level 1 | Cash equivalents | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	30,120	60,844
Aggregate Fair Value	30,120	60,844
Level 2 | Short-term investments | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	32,094	15,081
Aggregate Fair Value	32,094	15,081
Level 2 | Short-term investments | Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	39,892	124,178
Gross Unrealized Holding Gains		2
Gross Unrealized Holding Losses	(329)	(125)
Aggregate Fair Value	$ 39,563	$ 124,055

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Remaining contractual maturities for available-for-sale securities			one month to fourteen months
Securities in unrealized loss position for more than 12 months	$ 16,000,000		$ 16,000,000
Unrealized Losses Caused By Change In Market Interest Rates			200,000
Other-than-temporary impairment losses related to investments	$ 0	$ 0	$ 0	$ 0

Balance Sheet Components (Addit

Balance Sheet Components (Additional Information) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Balance Sheet Components
Restricted cash balance	$ 33,311	$ 33,300	$ 33,311

Balance Sheet Components - Sche

Balance Sheet Components - Schedule Of Cash And Cash Equivalents And Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 63,877	$ 182,348	$ 230,508
Restricted cash	33,311	$ 33,300	33,311
Total cash, cash equivalents and restricted cash	$ 97,188		$ 263,819

Balance Sheet Components - Sc_2

Balance Sheet Components - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 19,603	$ 18,114
Work in process	12,068	6,054
Finished goods	23,589	15,017
Total inventories	$ 55,260	$ 39,185

Balance Sheet Components - Accr

Balance Sheet Components - Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued inventory	$ 5,728	$ 4,808
Accrued research and development expenses	883	574
Accrued professional services	2,220	1,269
Accrued rebate	1,205	3,121
Other	6,334	4,017
Total accrued expenses and other current liabilities	$ 16,370	$ 13,789

Term Loan - Schedule of Term Lo

Term Loan - Schedule of Term Loan (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Principal of term loan	$ 30,000	$ 30,000
Unamortized debt discount	(172)	(238)
Term loan, noncurrent	$ 29,828	$ 29,762

Term Loan - Additional Informat

Term Loan - Additional Information (Detail) - USD ($) $ in Thousands			9 Months Ended
	Nov. 03, 2022	Jul. 02, 2020	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Principal of term loan			$ 30,000	$ 30,000
Debt discount on Perceptive Term Loan			$ 172	$ 238
SVB Term Loan
Debt Instrument [Line Items]
Principal of term loan		$ 30,000
Loan maturity date		Nov. 01, 2025
Description of payment terms			Payments under the SVB Term Loan were for interest only through May 2023, and then 30 monthly principal and interest payments from June 2023 until maturity.
Debt instrument interest only payments end date		2023-05
Debt instrument principal repayment period		30 months
Debt interest rate			6.75%
Debt instrument, final payment amount	$ 2,000
Early repayment fee	$ 300
SVB Term Loan | Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%

Equity Incentive Plans - Additi

Equity Incentive Plans - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 28, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jan. 01, 2022
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Earned units vesting percentage				50%
Stock-based compensation expense		$ 7,430	$ 2,864	$ 19,850	$ 12,653
Stock Option
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock options, description				25% quarterly over the course of the second year, and 50% quarterly over the course of the third year, or (ii) 33% on the first anniversary of the original vesting date, with the balance vesting quarterly over the remaining two years. Prior to February 2022, RSUs with a service-based vesting condition granted to a grantee generally vest at a rate of 25% on the first anniversary of the original vesting date
RSUs
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Percentage of restricted stock issued to CEO				50%
Percentage of restricted stock issued to other executive officers				80%
Earned units vesting percentage	25%
PSUs
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Percentage of restricted stock issued to CEO				50%
Percentage of restricted stock issued to other executive officers				20%
2020 Equity Incentive Plan
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Common stock shares reserved for issuance		5,032,000		5,032,000		1,890,000
Employees Share Purchase Plan (ESPP)
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Common stock shares reserved for issuance		1,278,000		1,278,000		472,000

Equity Incentive Plans - Summar

Equity Incentive Plans - Summary of Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Equity Incentive Plan [Line Items]
Cumulative stock-based compensation	$ 7,430	$ 2,864	$ 19,850	$ 12,653
Cost of Revenue
Equity Incentive Plan [Line Items]
Cumulative stock-based compensation	210	64	493	201
Research and Development
Equity Incentive Plan [Line Items]
Cumulative stock-based compensation	1,919	760	4,885	2,568
Sales and Marketing
Equity Incentive Plan [Line Items]
Cumulative stock-based compensation	2,870	1,207	7,440	4,001
General and Administrative
Equity Incentive Plan [Line Items]
Cumulative stock-based compensation	$ 2,431	$ 833	$ 7,032	$ 5,883

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Outstanding Potentially Dilutive Shares were Excluded from Calculation of Diluted Net Loss Per Share (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from calculation of diluted net loss per share	4,375,000	4,343,000	4,375,000	4,343,000
Stock Options to Purchase Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from calculation of diluted net loss per share	2,739,000	3,728,000	2,739,000	3,728,000
Restricted Stock Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from calculation of diluted net loss per share	1,511,000	542,000	1,511,000	542,000
Warrant to Purchase Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from calculation of diluted net loss per share	63,000	63,000	63,000	63,000
Shares Committed under ESPP
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from calculation of diluted net loss per share	32,000	10,000	32,000	10,000
Performance Stock Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from calculation of diluted net loss per share	30,000		30,000

Subsequent Event - Additional I

Subsequent Event - Additional Information (Details) - USD ($) $ in Thousands	Nov. 03, 2022	Sep. 30, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Principal of term loan		$ 30,000	$ 30,000
Subsequent Event
Subsequent Event [Line Items]
Collateral monitoring fee	0.10%
Subsequent Event | Additional Tranche [Member]
Subsequent Event [Line Items]
Non-refundable facility fee	$ 187,500
Subsequent Event | SLR Revolver
Subsequent Event [Line Items]
Term loan accrue interest rate	2.75%
Monthly payment arrears percentage	3.20%
Additional Aggregate Commitments	$ 25,000
Revolving Credit Conversion to Term Loan, Description	The Company may terminate the SLR Revolver at any time, subject to a termination fee of (i) 2.0% of the aggregate revolving commitments then in effect, if terminated prior to or on the first anniversary of the Closing Date, (ii) 1.0% of the aggregate revolving commitments then in effect, if terminated after the first anniversary of the Closing Date through and including the second anniversary of the Closing Date, or (iii) 0.5% of the aggregate revolving commitments then in effect, if terminated after the second anniversary of the Closing Date through and including the third anniversary of the Closing Date. Such termination fee is waived if the SLR Revolver is terminated after the third anniversary of the Closing Date and prior to the Maturity Date.
Line of Credit Facility, Interest Rate Description	Amounts available to be drawn under the SLR Revolver are equal to the lesser of (i) outstanding revolving commitments under the SLR Revolving Credit Agreement and (ii) a borrowing base (the Borrowing Base) equal to the sum of (a) 85% of eligible accounts receivable, plus (b) 25% of eligible inventory (not to exceed the lesser of 50% of the Borrowing Base and $5.0 million), minus (c) customary reserves, minus (d) unposted cash.
Subsequent Event | SLR Revolver | Activated Facility Commitment [Member]
Subsequent Event [Line Items]
Aggregate Commitments	$ 50,000
Subsequent Event | Initial Revolver Commitment
Subsequent Event [Line Items]
Non-refundable facility fee	187,500
Aggregate Commitments	25,000
Subsequent Event | SLR Credit Facilities
Subsequent Event [Line Items]
Debt instrument, final payment amount	2,000
Early repayment fee	300
Line of Credit Facility, Maximum Borrowing Capacity	200,000
Line of Credit Facility, Maximum Borrowing Capacity	200,000
Subsequent Event | Term A Loan | SLR Term Loan Facility
Subsequent Event [Line Items]
Principal of term loan	100,000
Subsequent Event | Term B Loan | SLR Term Loan Facility
Subsequent Event [Line Items]
Principal of term loan	20,000
Subsequent Event | Term C Loan | SLR Term Loan Facility
Subsequent Event [Line Items]
Principal of term loan	$ 50,000
Subsequent Event | SLR Loan Agreement | SLR Credit Facilities
Subsequent Event [Line Items]
Default Interest Rate	4%
Subsequent Event | SLR Loan Agreement | Term A Loan | SLR Term Loan Facility
Subsequent Event [Line Items]
Non-refundable facility fee	$ 750,000
Subsequent Event | SLR Loan Agreement | Term B Loan | SLR Term Loan Facility
Subsequent Event [Line Items]
Non-refundable facility fee	750,000
Subsequent Event | SLR Loan Agreement | Term C Loan | SLR Term Loan Facility
Subsequent Event [Line Items]
Non-refundable facility fee	$ 375,000
Subsequent Event | SLR Investment Corp | SLR Term Loan Facility
Subsequent Event [Line Items]
Percentage of Fee on Term Loans Funded	4.75%
Subsequent Event | First Revenue Milestone
Subsequent Event [Line Items]
Line of Credit Facility, Borrowing Capacity, Description	If the Company achieves a certain net revenue milestone, calculated on a trailing six month basis (First Revenue Milestone), on or before June 30, 2024 and the Additional Tranche (as defined below) under the SLR Revolver has been approved, the Company will be permitted to borrow up to $250.0 million under the SLR Credit Facilities. If the Company achieves a subsequent additional net revenue milestone, calculated on a trailing six month basis (Second Revenue Milestone), on or before June 30, 2025 and obtains lenders' credit approval, the Company will be permitted to borrow up to $300.0 million under the SLR Credit Facilities.
Subsequent Event | Maximum | Term B Loan | SLR Term Loan Facility
Subsequent Event [Line Items]
Principal of term loan	$ 100,000
Subsequent Event | Maximum | SLR Loan Agreement | SLR Term Loan Facility
Subsequent Event [Line Items]
Principal of term loan	250,000
Subsequent Event | Maximum | SLR Investment Corp | SLR Loan Agreement | SLR Term Loan Facility and SLR Credit Facilities
Subsequent Event [Line Items]
Principal of term loan	300,000
Subsequent Event | Maximum | First Revenue Milestone | SLR Loan Agreement
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	250,000
Line of Credit Facility, Maximum Borrowing Capacity	250,000
Subsequent Event | Maximum | Second Revenue Milestone | SLR Loan Agreement
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	300,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 300,000
Subsequent Event | SOFR | SLR Loan Agreement | SLR Term Loan Facility
Subsequent Event [Line Items]
Term loan accrue interest rate	2.75%
Monthly payment arrears percentage	5.15%
Subsequent Event | First Anniversary of Closing Date | SLR Investment Corp | SLR Term Loan Facility
Subsequent Event [Line Items]
Percentage of Premium Paid on Term Loan	3%
Subsequent Event | Second Anniversary of Closing Date | SLR Investment Corp | SLR Term Loan Facility
Subsequent Event [Line Items]
Percentage of Premium Paid on Term Loan	2%
Subsequent Event | After Second Anniversary of Closing Date | SLR Investment Corp | SLR Term Loan Facility
Subsequent Event [Line Items]
Percentage of Premium Paid on Term Loan	1%